Affordplan has Rs 20 crore from Prime, Kalaari

The company did not divulge metrics about the number of hospitals using its platform or the number of customers who have used the product since it was launched in May.ET Bureau | November 30, 2016, 16:36 IST

BENGALURU: Affordplan, a fintech startup that helps individuals plan savings for medical procedures and get affordable healthcare services, has raised Rs 20 crore from Prime Venture Partners and Kalaari Capital in its Series-A round of funding, the company said on Tuesday.

Affordplan was among the first few startups selected by Kstart, a seed and incubation programme launched by Kalaari Capital earlier this year, during which it had raised Rs 3 crore. The startup helps patients get discounted medical procedures by letting them deposit installments with the hospital to help them financially plan and prepare for such procedures. Some of the cases Affordplan has seen include pregnancy and fertility, eye care and dental care, and cosmetic procedures. The company charges a fee from the hospital for helping in demand aggregation.

The company did not divulge metrics about the number of hospitals using its platform or the number of customers who have used the product since it was launched in May. Tejbir Singh, CEO at Affordplan, said the product was largely targeted at individuals earning between Rs 2 lakh and Rs 10 lakh a year, who "may not have an income problem but a liquidity problem."